Australian companies adopting solar energy in droves

Australian companies adopting solar energy in droves

October 23, 2012 0 By Erin Kilgore

Solar energy could be t he key to financial stability

More Australian businesses are making the switch to solar energy in an effort to save money. Energy prices are going up in the country due to the rising tensions, political and otherwise, surrounding fossil-fuels. As it becomes more problematic for oil to find its way to Australia, the cost of the commodity increases. This is beginning to put excessive strain on businesses that could receive the energy they need through renewable sources.

Provincial governments throwing more support behind solar energy

It seems that more companies around Australia are taking the notion of renewable energy seriously as energy prices continue to rise. Solar energy, in particular, is becoming extremely popular in Australia due to the country’s near constant exposure to solar radiation. As provincial governments begin to throw their support behind solar energy projects, businesses are looking to make use of the energy generated by these new installations in order to cut down on their electricity bills. Adopting solar energy may also help these companies avoid harsh penalties imposed on them by the government due to new emissions regulations.

Cap-and-trade scheme highlights benefits of solar energy

The federal government introduced a carbon tax earlier this year, penalizing companies for their production of greenhouse gas emissions. The initiative was meant to introduce emissions trading to the country, encouraging companies to barter for carbon credits that would allow them to produce more carbon dioxide gas than by default. Though the concept of emissions trading has been shrouded in controversy, facing federal penalties could be exceedingly more costly than purchasing carbon credits from other companies. As a way to eliminate the potential costs entirely, however, Australian companies have begun turning to solar energy.

Solar energy means lower emissions

If companies do not emit carbon dioxide, they have no use for the carbon credits that are allotted to them. As such, they can sell these credits to companies that are less inclined to adopt clean energy. Adopting solar energy also removes the risk of facing government fines, thus keeping a company’s finances safe from federal intervention.

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